October, 2022

• 6 October

  Taiwan pledges to keep advanced chips from Chinese military

  

  Bloomberg Taiwan pledged to work closely with the US and other allies to prevent China’s military from acquiring state-of-the-art technology, as Washington steps up efforts to contain the world’s No. 2 economy. Taiwan, home to the world’s largest semiconductor foundry, will keep its advanced chip development at home, while adopting measures to stop its tech from being used by the ...

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• 6 October

  Myanmar military-linked party names junta chief’s ally as leader

  

  Bloomberg A Myanmar military-linked party has named a close ally of junta chief Min Aung Hlaing as its leader, a sign the country is gearing up for national elections next year. The Union Solidarity and Development Party’s executive members elected Khin Yi as the new chairman to replace Than Htay who resigned due to his health. The party had also ...

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• 6 October

  Ethiopia accepts invitation to talks on ending conflict

  

    Bloomberg Ethiopia’s government accepted an invitation by the African Union to talks about ending the nation’s two-year civil war. The continental body invited Ethiopia’s government and dissident Tigray fighters to talks in South Africa scheduled for October 8, according to a copy of the letter seen by Bloomberg that was verified by an African Union official. South African Department ...

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• 6 October

  Bankers hope to end Asia M&A slump via smaller deals, less debt

  

  Bloomberg Asia’s financial hub is letting people go on a proper holiday for the first time since the pandemic began. For bankers in Hong Kong, the chance to take a break also speaks to a steep fall in dealmaking activity — in the city, and across the region. While the decline has been global, it’s been particularly acute in Asia ...

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• 6 October

  Indonesia set for smaller rate hikes

  

  Bloomberg Indonesia’s central bank could settle for quarter-point moves at its upcoming policy rate meetings after September inflation came in lower than estimates despite the fuel price hike, economists said. Maybank Investment Banking Group trimmed its forecast for Indonesia’s 2022 average inflation to 4.5% from 5.2%. To be sure, the increase in transport fares and the rebound in consumer demand ...

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• 5 October

  US equity-index futures fall amid fizzling Fed-pivot talk

  

    Bloomberg US equity-index futures fall as investors took a pause from a rally driven by bets for less hawkish central banks, and sought more evidence that inflation is moderating. December contracts on the S&P 500 and Nasdaq 100 dropped 0.9% each after the underlying indexes scaled two-week highs. Treasuries slid across the curve and the dollar rose for the ...

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• 5 October

  Short sellers forced to fold as S&P 500 surges

  

    Bloomberg One by one, short sellers are being forced to capitulate as market expectations grow for a slower pace of central bank tightening. Whether in stocks or bonds, bearish bets are being dealt a blow as US data begin to reflect the fallout from the Federal Reserve’s aggressive rate hikes. A dovish pivot by the Reserve Bank of Australia ...

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• 5 October

  ISNR Abu Dhabi 2022 to see record participation from local, global firms

  

    Abu Dhabi / WAM Under the patronage of HH Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, the activities of the International Exhibition of National Security and Resilience (ISNR Abu Dhabi 2022) are scheduled to begin from October 10-12 at the Abu Dhabi National Exhibition Centre (Adnec), with record participation confirmed ...

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• 5 October

  Multiply group acquires 80% of IEH to grow its utilities portfolio

  

    Abu Dhabi / WAM Multiply group, an Abu Dhabi-based holding company, acquired 80% of International Energy Holding LLC (IEH). International Energy Holding recently acquired a 50% stake in Kalyon Enerji Yatrimlari AÅž, a market-leading clean and renewable energy company based in Türkiye. Under IEH, Multiply Group aims to continue expanding its utilities and energy investments globally. Kalyon Enerji’s assets ...

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• 5 October

  UAE leaders wish King of Lesotho on Independence Day

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to King Letsie III of the Kingdom of Lesotho on the occasion of his country’s Independence Day, which is marked on October 4. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

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